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    Property profile & analytics
    OFF-MARKET Estimated value $2,600,000
    Office buildings

    303 21st St, Newport, MN 55055-1094

    24,447 SF 0.79 ac lot Built 1922
    Entity Owned Absentee Owner Free & Clear
    Property ID
    US46-0460777
    Property summary
    AI-generated overview

    This two-story, 21,800 square foot commercial building at 303 21st St, Newport, MN 55055, offers diverse office spaces ideal for various businesses. Located in the Washington County submarket (Newport/Cottage Grove cluster), this Class C property boasts a convenient location near Newport's new city hall and off Highway 494, ensuring high visibility and accessibility. Built in 1954 and renovated in 2009, the building features 25 suites, with four currently available, ranging from 668 to 1,850 contiguous square feet. The minimum divisible space is 668 square feet. The building includes a total of 34 parking spaces and an open atrium at the main entrance, enhancing the welcoming atmosphere. Security features include a camera system and automated access control at the main entrance. The building's diverse tenancy includes a US Post Office, providing excellent exposure and foot traffic. Other tenants represent a variety of services, including tax services, chiropractic, cosmetics, tattoo, logistics, dental, pet accessories, and mechanical contractors. The building is well-maintained and offers 8-foot ceilings. Utilities are provided by Xcel Energy. The property sits on one acre of land and is zoned MX-2. While there are no elevators, the building's two stories are easily accessible. This property presents a valuable opportunity for businesses seeking a well-located, versatile, and established office space in a thriving community.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 1922
    Total area 24,447 SF
    Lot 0.79 ac (34,460 SF)
    APN 26-028-22-41-0034
    UPID US46-0460777
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Newport Plaza Shopping Center & Mall
    • Five Star Exteriors & Interiors of MN LLC General Contractor
    • Oak Tree Support Services Social Service Agency Charitable Organization
    • eAge Academy, Inc. High School Vocational School
    • Newport Windshield Replacement & Repair Auto Repair Shop (Bike/Boat/Book/etc) Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $2.85M
    Blend (final) Blend
    $2.60M
    Owner & transaction history
    KRI INVESTMENTS LMTD PARTNER
    KRI INVESTMENTS LMTD PARTNER
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Commercial (general) $4.3M +16.3%
    Retail stores $4.3M +15.1%
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